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Oil giant Chevron to lay off thousands in bid to cut up to 20% of global workforce - The Guardian somewhat bearish
CVX
Summary: Chevron plans to lay off 15-20% of its global workforce by the end of 2026 in a cost-cutting effort, amid production challenges, a major acquisition in limbo, and industry-wide weakness in the refining business.
Full articleHealth care giant to slash thousands of job, some of them likely in CT - Hartford Courant somewhat bearish
CVS
Summary: CVS Health Corp. plans to cut another 2,900 jobs, mostly corporate, impacting Aetna's Hartford headquarters. The layoffs are part of a $2 billion cost-cutting initiative aiming to invest in technology.
Full articleLighthouse Investment Partners LLC Has $326,000 Stock Holdings in Philip Morris ... - MarketBeat somewhat bullish
PM PM
Summary: Kimelman & Baird LLC bought a new position in shares of Philip Morris International Inc. in the 2nd quarter. Several other institutional investors and hedge funds have also made changes to their positions in the business. Wall Street analysts have been bullish on Philip Morris International, with target price upgrades and buy ratings. Insiders at Philip Morris International have been selling their shares. Philip Morris International also increased its dividend.
Full articleAmazon, Google stake out bigger foothold in payments somewhat bullish
AMZN GOOGL
Summary: Amazon and Google are making efforts to enhance payments infrastructure to gather consumer data and drive revenue growth through partnerships and financial products. They are focusing on embedding themselves in transactions to collect valuable consumer data and expand their presence in the payments space. Both companies have faced challenges in launching financial products but have found success in partnerships.
Full articleHealth Care Inc: Prior authorization reform for prescription drugs - STAT News somewhat bearish
CVS CI UNH
Summary: The Federal Trade Commission has sued the nation’s three biggest pharmacy benefit managers, accusing them of creating a system that has driven up the price of insulin. The PBMs, including CVS Caremark, Cigna’s Express Scripts, and UnitedHealth Group’s Optum Rx, deny the allegations and blame insulin manufacturers for the issue.
Full articleShokz Named Official Headphone Partner of the Bank of America Chicago Marathon somewhat bullish
Shokz
Summary: Shokz has partnered with the Bank of America Chicago Marathon as the Official Headphone Partner, providing open-ear bone conduction headphone technology for runners. Shokz's presence will include activities like headphone testing, a Shakeout Run, and giveaways during the marathon weekend.
Full articleAn Interview with Craig Moffett About Apple and Telecoms - Stratechery by Ben Thompson neutral
AAPL
Summary: Craig Moffett discusses the impact of the iPhone on the telecoms industry, Apple's outlook in the age of AI, and the deteriorating TV situation.
Full articleGoogle says UK risks being 'left behind' in AI race without more data centres - The Guardian somewhat bullish
GOOGL
Summary: Google warns UK government of falling behind in AI race, urges more datacentres and use of copyrighted work in AI models. Google also suggests creating a national research cloud and relaxing restrictions on text and data mining for non-commercial purposes.
Full articleCisco cutting thousands of jobs in second biggest layoff of 2024; here's what CEO said somewhat bearish
CSCO
Summary: Cisco has initiated its second round of job cuts for the year, affecting about 5,600 employees. CEO Chuck Robbins remains optimistic about the rebounding demand for Cisco's networking equipment despite the layoffs. The company aims to invest in growth opportunities and drive more efficiencies through restructuring its departments.
Full article8th Circ. Considers Chevron's End In 3M's $24M Tax Case - Law360 Tax Authority neutral
MMM
Summary: 8th Circ. will consider an argument by 3M related to the U.S. Supreme Court's overturning of Chevron deference in a $24M tax case.
Full articleLocal Spotlight featuring Chevron Houston Marathon - ABC13 neutral
CVX
Summary: Chevron Houston Marathon is set to return to Houston on January 19 with a weekend full of family-friendly events and fun, including the iconic race and the Run for a Reason program.
Full articleMarathon purchase was 'pure synergy play', says ConocoPhillips chief - Upstream Online somewhat bullish
COP MPC
Summary: ConocoPhillips chief views Marathon purchase as 'pure synergy play' and sees potential for US gas growth with fixed permitting
Full article